Person to Person (P2P) Payments
P2P payments are a digital cash alternative that makes sending and receiving money as easy as emailing and texting. You can pay rent to your landlord, send your roommate money for utilities, even split the bill with friends when eating out - all through your mobile device. P2P payments allow you to quickly transfer money from your existing debit card account to almost anybody else’s.
Easy
No registration or setup required—the feature is ready to use in online and mobile banking.
Secure
Every transaction requires your debit card PIN, making it as safe as any debit transaction.
Affordable
There is a $1 per transaction transfer fee on all P2P transactions.
Questions?
If you have any questions about P2P payments or how they work, contact us today!
How to Use P2P
Getting started with P2P is easy! Simply sign in to online or mobile banking and perform the following steps:
- Click on “Pay & Transfer” in online or mobile banking
- Select “P2P Payments”
- Click “Send Money”
- Enter your debit card information
- Enter recipient name and contact information
- Enter your existing debit card PIN
Your recipient will be notified that money is waiting to be claimed. It's that simple!
Cost
There is a $1 per transaction transfer fee on all P2P transactions.
Are Funds Removed From My Account Immediately?
Sending funds is similar to withdrawing money from an ATM; funds are immediately debited from your account. The timing of when funds are received depends on the recipient. If the recipient uses a debit card in a participating network (Star, NYCE, Pulse, Shazam, CU24, or Accel), the funds are available immediately. Otherwise, the recipient is prompted to provide details for a checking account, the transaction is processed via the ACH Network, and funds are available in 1 to 3 business days, depending on the recipient financial institution’s process.
Daily Limit
The Infuze Credit Union P2P payment service allows you a maximum withdrawal limit of $700 every 24-hours, and this must be within the daily withdrawal limit for your debit card.
How Do I know If P2P Is Secure?
P2P is built into online banking, which includes many security features designed to protect your financial information. P2P also utilizes a scrambling PIN pad that requires PIN entry by mouse or touch screen; a PIN cannot be entered by typing numbers on the keyboard. This feature helps keep the transaction secure if your device is infected with viruses or malware that track keystrokes. In addition, the PIN is encrypted, so it never travels across payment channels as a numeric PIN.
Will My Personal Information Be Shared With The Recipient?
Only your name is shared with the recipient.
What If My Recipient Does Not Receive The Payment?
If the recipient does not claim the funds within 10 days, the funds are returned to your account.
What If I Send Funds To The Wrong Number And/Or Email Address?
For real-time payments (as opposed to ACH payments), a recipient can access funds immediately. If the recipient has not yet received the transaction, Infuze CU can cancel the transaction. In this instance, please contact us. Otherwise, the recipient must send the funds back to you or give permission to the financial institution to return the funds.
What If I Enter The Wrong PIN?
You have two chances to enter the PIN correctly before access to the PIN pad is disabled in online banking. The PIN pad will reset after 24 hours.
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